South African retail trade sales at constant (2000) prices for August decreased year-on-year for the fourth consecutive month, recording a drop of 5.5 percent, after a 4.6 percent drop in July, figures released on Wednesday by Statistics South Africa show.

Total retail sales reached R23.505-billion from R23.312-billion in July and from R24.862-billion this time a year ago.

Retail trade sales at current prices, for the three months to August 2008 increased by 11.8 percent compared with the three months to August 2007. The increase for the corresponding period of 2007 was 13.1 percent.

Retail trade sales at current prices for August 2008 increased by 11.2 percent compared with August 2007.

The major contributors to the 11.8 percent increase in retail trade sales at current prices for the three months ended August 2008 were general dealers (+4.9 percentage points), retailers in textiles, clothing, footwear and leather goods (+2.9 percentage points) and all other retailers (+1.5 percentage points).

Retailers in household furniture, appliances and equipment started contributing positively (+0.2 of a percentage point) to the change in retail trade sales, after more than a year of negative contribution, following the introduction of the new National Credit Act in June 2007.

Stats SA also noted that retail trade sales at constant prices for the first eight months of 2008 reflected a decrease of 1.7 percent compared with the first eight months of 2007, while growth for the same period in 2007 was 7.8 percent.

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